Because of the abuses by state banks and the clear need for a central bank to help the federal government raise funds during the War of 1812,Congress created the
A) Bank of United States in 1812.
B) Bank of North America in 1814.
C) Second Bank of the United States in 1816.
D) Second Bank of North America in 1815.
Correct Answer:
Verified
Q7: The modern commercial banking system began in
Q8: Before 1863
A)federally-chartered banks had regulatory advantages not
Q9: Prior to 1863,all commercial banks in the
Q10: Probably the most significant factor explaining the
Q11: Although the National Bank Act of 1863
Q13: The belief that bank failures were regularly
Q14: The National Bank Act of 1863,and subsequent
Q15: Currency circulated by banks that could be
Q16: A major controversy involving the banking industry
Q17: The regulatory system that has evolved in
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